FOR IMMEDIATE RELEASE
June 20, 2012
MAYOR BLOOMBERG SIGNS LEGISLATION AMENDING THE COLLECTION OF THE COMMERCIAL MOTOR VEHICLE TAX FOR MEDALLION TAXI CABS
Remarks by Mayor Michael R. Bloomberg at a Public Hearing on Local Laws
“The final bill before me today is Introductory Number 877, sponsored at the request of the Administration by Council Members Recchia, Vacca, Barron, Comrie, Fidler, Gennaro, Gentile, James, Koo and Palma. Introductory Number 877 transfers the collection of the commercial motor vehicle tax on medallion taxicabs from the Taxi and Limousine Commission to the Department of Finance.
“The commercial motor vehicle tax is paid by all for hire vehicles that operate in the City. This administrative transfer will restore the semiannual installment payment schedule for the commercial motor vehicle tax on medallion taxicabs, thus eliminating the current “up front” payment requirement that can impose a hardship on the lessees and drivers of medallion cabs that pay the commercial motor vehicle tax out of their own pocket. In addition, this bill gives the Taxi and Limousine Commission the authority to deny a license, or the renewal of a license, for any medallion taxi that fails to pay the commercial motor vehicle tax.
“I would like to thank Department of Finance Commissioner David Frankel and Taxi and Limousine Commissioner David Yassky and their staff for their work on this bill, along with my Office of City Legislative Affairs. I would also like to thank the City Council for approving this legislation.”
Stu Loeser/Evelyn Erskine (212) 788-2958
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